Sumitomo Mitsui Financial Group (NYSE:SMFG) Stock Rating Upgraded by StockNews.com

Sumitomo Mitsui Financial Group (NYSE:SMFG) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.

Sumitomo Mitsui Financial Group Price Performance

SMFG stock opened at $16.69 on Friday. Sumitomo Mitsui Financial Group has a 52-week low of $10.74 and a 52-week high of $16.74. The business has a 50-day simple moving average of $15.19 and a two-hundred day simple moving average of $14.16. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.05 and a current ratio of 1.06. The company has a market capitalization of $108.02 billion, a P/E ratio of 16.20, a price-to-earnings-growth ratio of 2.36 and a beta of 0.59.

Hedge Funds Weigh In On Sumitomo Mitsui Financial Group

Hedge funds have recently modified their holdings of the company. Capital A Wealth Management LLC bought a new position in shares of Sumitomo Mitsui Financial Group during the 4th quarter worth approximately $25,000. Bessemer Group Inc. raised its holdings in shares of Sumitomo Mitsui Financial Group by 138.1% in the 4th quarter. Bessemer Group Inc. now owns 1,929 shares of the bank’s stock worth $28,000 after purchasing an additional 1,119 shares during the period. Versant Capital Management Inc bought a new stake in shares of Sumitomo Mitsui Financial Group in the 4th quarter worth approximately $30,000. Park Square Financial Group LLC bought a new stake in shares of Sumitomo Mitsui Financial Group in the 4th quarter worth approximately $34,000. Finally, TD Waterhouse Canada Inc. raised its holdings in shares of Sumitomo Mitsui Financial Group by 2,178.7% in the 4th quarter. TD Waterhouse Canada Inc. now owns 3,099 shares of the bank’s stock worth $45,000 after purchasing an additional 2,963 shares during the period. Institutional investors own 3.85% of the company’s stock.

Sumitomo Mitsui Financial Group Company Profile

Sumitomo Mitsui Financial Group, Inc, together with its subsidiaries, provides banking, leasing, securities, credit card, and consumer finance services in Japan, the Americas, Europe, the Middle East, Asia, and Oceania. It operates through Wholesale Business Unit, Retail Business Unit, Global Business Unit, and Global Markets Business Unit segments.